Plans for a major expansion of the Drayton Manor Business Park in Tamworth have been unveiled. This £70 million investment aims to create a substantial 168,500 sq ft of new industrial space.
Expected to generate numerous job opportunities, the project is aligned with both economic and environmental sustainability goals.
Significant Investment Announced
Plans have been announced for a substantial investment in the West Midlands, where FI Real Estate Management intends to expand the Drayton Manor Business Park in Tamworth. This ambitious project involves a £70 million investment aimed at adding 168,500 sq ft of industrial space. This development is expected to significantly boost the local economy.
Job Creation and Economic Impact
The proposed development, encompassing a combination of industrial expansion and infrastructure improvements, promises to be a catalyst for job creation. FI Real Estate Management estimates that around 650 construction jobs will be generated initially, followed by 1,400 permanent roles once the new units are operational. This influx of employment opportunities could transform the local labour market.
The project is strategically located next to the well-known Drayton Manor Resort and theme park, highlighting its potential to attract a diverse range of businesses and industries.
Environmental Considerations and Sustainability
Key to the development plans are sustainability initiatives, such as the creation of a wetland area, tree planting, and the addition of new footpaths and cycleways. These initiatives underscore FI Real Estate Management’s commitment to sustainable development practices.
Such environmentally conscious additions are not just aesthetic but practical, aiming to enhance the ecological footprint of the park. They reflect a growing trend toward integrating nature within industrial zones.
The planning and development phases are projected to take place over the next six years, providing ample time for these important ecological elements to be incorporated and optimised.
Financial Projections and Development Value
The anticipated gross development value of the expanded business park is estimated to exceed £100 million, highlighting the project’s significant financial scope. This valuation reflects both the construction costs and the potential for increased business occupancy.
With the expansion, the industrial park will continue to be a cornerstone of regional economic growth and a pivotal location for commercial activities.
Stakeholder Insights and Local Reactions
Tim Knowles, founder and managing director of FI Real Estate Management, expressed optimism regarding the development. He emphasised the strategic importance of this expansion, calling it a signal of future growth in the area.
He stated, “We are committed to investing here and are eager to breathe life back into the business park, uniting sustainability and quality to bring a new wave of opportunity to this established industrial location.” Such statements reflect the enthusiastic reception from key stakeholders and the local community.
Local councils and residents have been part of the consultation process, ensuring that the development addresses community needs and priorities.
Long-Term Strategic Goals
The expansion aligns with long-term strategic goals to enhance infrastructure and support economic development within the West Midlands. Enhancing industrial capacity in this region is crucial for sustaining economic growth and competitiveness.
By investing in infrastructure, the project is not only transforming the business park but also setting a precedent for future developments in the area.
Conclusion
The expansion of Drayton Manor Business Park represents a significant step forward for the West Midlands, combining economic growth with sustainable development. This project, with its substantial employment opportunities and environmental initiatives, is set to make a lasting impact on the region.
The Drayton Manor Business Park expansion is poised to significantly enhance the economic landscape of the West Midlands. By integrating sustainable practices, it sets a benchmark for future industrial developments.
